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Journal entry for Customer Credit Memo and Vendor Credit Memo

Updated May 18, 2018

Hi,

Vendor Credit Memo: Vendor a/c dr
to Exp/Purchases a/c

Customer Credit Memo: Sales/ Income a/c dr
to Customer a/c.

Bye

Comments

09 Feb 2012 6:16 am Ramakrishnan Shanmugam Helpful Answer
The following journal entry will happen for Customer Credit Memo

Posting Key Description
40 GL A/c Dr
11 To Customer a/c

Vendor Credit Memo

Posting Key Description
21 Vendor A/c Dr
11 To GL a/c

06 Dec 2010 8:30 am Guest
what is the accounting treatment for subsequent debit , credit and credit memo,

21 Mar 2012 12:56 pm M Suri
for subsequent credit will have impact on Quantity and not in amount.

Surendra

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